A few of you have already discussed this in another thread concerning brokers in Muntilpe jurisdiction and determining which jurisdiction your account will be in.
Several sources suggest that IronFX has faced accusations of misleading customers about the location of their accounts, particularly regarding whether they were held with IronFX UK (regulated by the FCA) or IronFX Global Limited (regulated by CySEC in Cyprus).
One specific case involved a customer (Ms L) who was allegedly told by IronFX UK that her account would be regulated by the UK Financial Conduct Authority (FCA).
However, when she opened accounts through the specified websites, she became a customer of IronFX Global Limited, which is based in Cyprus and regulated by the Cyprus Securities and Exchange Commission (CySEC). The Financial Ombudsman Service later concluded that the information provided to Ms L was misleading, and recommended that IronFX UK pay her compensation.
It’s important to note that some sources indicate that the UK branch of IronFX has encountered no issues regarding withholding funds, unlike the international branch. However, the history of complaints and the misleading information provided to customers are significant concerns that individuals should be aware of when considering trading with IronFX.
Decision Reference DRN9533567
Financial Ombudsman
.
https://www.financial-ombudsman.org.uk/decision/DRN9533567.pdf)
But she became a customer of IronFX Global Limited in respect of the accounts, not IronFX UK. Ms L later brought a complaint about the accounts to this service.